FEATURED ARTICLE
Quality of Life and Impacts on the Local Economy
In 2017 Amazon announced it was in search of its new HQ2. Dozens of cities and states scrambled to put proposals together. One of the unique preferences they added to their core criteria was “Community Quality of Life”.
“The Project requires a significant number of employees. We want to invest in a community where our employees will enjoy living, recreational opportunities, educational opportunities, and an overall high quality of life. Tell us what is unique about your community.” ~ Amazon HQ2 RFP
The two buildings comprising Amazon's second headquarters, HQ2, following grand opening ceremony in Arlington, VA
We review countless Requests for Proposals and other documents regarding community visioning, land use planning and economic development strategies that talk about “Quality of Life” – seems everyone is focused these days on trying to create, improve, enhance or protect it. Local governments and economic development organizations have discovered that, in a post pandemic era where competition is fierce, and to ensure long-term economic prosperity, certain local characteristics are necessary to attract talent, companies and investment.
Oh, the rest of the story?….. Amazon announced in 2018 that it would split the HQ into two states: Virginia and New York. Then political wrangling ensued around incentives in New York. The project was cancelled in 2019. Construction began on
the Virginia location and was completed in June 2023.
The Challenge Is: How Do We Assess and Quantify It?
The Quality of Life Scale (QOLS), created originally by American psychologist John Flanagan in the 1970’s, has been adapted for use in a variety of contexts including healthcare and most recently in land use and economic development. Our 30-year experience on the subjective nuances of what quality of life means, while watching trends, cycles and disruptions, we developed a qualitative and quantitative assessment.
Our recently updated Quality of Life (QOL) Scorecard™ is a tool developed within our Community Prosperity Builder™ which is a customized suite of services to assist local governments and economic development organizations in analyzing its effectiveness in attracting new residents, visitors, and talent to build a resilient and prosperous local economy. The scorecard includes twelve categories under which over 75 data points are assessed in determining the current situation and goals for land use, capital improvements, economic development incentives and other policy priorities. It is designed to provide a measure of how well decisions have impacted the community and a roadmap for the community’s vision for its future.
For more information about our Quality of Life Scorecard or other products and services, reach out to us at info@roseassociates.com to schedule a free initial consultation.
News and Events
Top Ten Issues Affecting Real Estate
Since presenting the 2023/2024 Top Ten Issues at its annual conference Sept. 2023 in Vancouver, BC – Canada, Committee Chair, Kathleen Rose, CCIM, CRE® has been sharing insights of the report in an article published by the Counselors Real Estate Issues publication and on a CCIM Podcast. It will also be featured in the CCIM Institute’s upcoming issue of Commercial Connections magazine.
For details on the 2023/2024 Top Ten Issues in Commercial Real Estate, see the Report.
ADVISORY PROJECT UPDATES
Rose Associates’ work continues on the following projects:
- Iredell County, NC has adopted its 2045 Horizon Plan. Rose Associates worked in partnership with Clarion Associates on this plan which balances growth and agricultural preservation in this fast growing area along I-77 and
Lake Norman. - Working with VHB, the Rose team evaluated the real estate impacts from the region’s continued growth on the US 70 West Corridor, a 19-mile section in Orange & Alamance Counties. The plan is in final stages of review.
- Rose Associates is excited to expand its strategic partnership with Bolton-Menk/ColeJenest & Stone and our work together on the former Pacific Mill in Lyman, SC. The team is collaborating to envision new life for this strategic site in the town center situated between Spartanburg and Greenville, SC. And its most recent work, a site study in Spencer, NC for the Yadkin River District.
- The Rose Team is also both winding down and ramping up other downtown, private development, and local government projects providing market analysis and strategic and strategic land use and development positioning and advisory services.
Mill Redevelopment: Do you have success story in your community about a Carolina Mill project? Let us know. We are compiling case studies for an upcoming storybook. We’d love to showcase your project! Email info@roseassociates.com with subject line “Mill Project”.
BROKERAGE DIVISION ANNOUNCEMENTS
- Whit’s Custard – Daniel Bellot is exclusive tenant representative for Whit’s Custard in its site selection and is now seeking sites in and around the Charlotte Region. Reach out to Daniel at dbellot@roseassociates.com if your
property or community wants to know more.
How Can We Help?
Whenever you’re ready, there are several ways we can help with our enhanced menu of products and services in areas such as Economic Development, Land Use & Commercial Real Estate.
Need a speaker for your next event on these topics?
Kathleen Rose, CCIM, CRE® our subject matter expert can deliver engaging, insightful and informative insights that bring value to your event or organization.
